Lipe & Dalton lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,557 shares of the bank’s stock after selling 574 shares during the quarter. Canadian Imperial Bank of Commerce makes up about 3.6% of Lipe & Dalton’s portfolio, making the stock its 6th biggest holding. Lipe & Dalton’s holdings in Canadian Imperial Bank of Commerce were worth $4,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CM. Liberty Wealth Management LLC purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $31,000. CWM LLC increased its stake in Canadian Imperial Bank of Commerce by 1,524.0% during the first quarter. CWM LLC now owns 406 shares of the bank’s stock worth $32,000 after purchasing an additional 381 shares during the period. Advisory Services Network LLC increased its stake in Canadian Imperial Bank of Commerce by 108.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after purchasing an additional 230 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $37,000. Finally, Financial Gravity Companies Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $38,000. 45.93% of the stock is currently owned by institutional investors.

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Shares of CM stock traded up $0.82 during mid-day trading on Friday, reaching $77.84. The stock had a trading volume of 553,562 shares, compared to its average volume of 392,527. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.12. The stock has a market cap of $37.11 billion, a P/E ratio of 8.33, a P/E/G ratio of 5.11 and a beta of 1.16. Canadian Imperial Bank of Commerce has a 12-month low of $72.96 and a 12-month high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a return on equity of 16.17% and a net margin of 19.44%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $2.95 EPS. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 9.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.16 annualized dividend and a yield of 5.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.50%.

A number of analysts recently weighed in on CM shares. Barclays restated an “average” rating and set a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, March 1st. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, March 4th. Scotiabank reaffirmed an “average” rating and issued a $126.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TD Securities downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $125.43.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.